GSK puts Mumbai land on the block again

Pharma major GlaxoSmithKline Pharmaceuticals has revived its plans to sell 60 acre land parcel in Thane, on the outskirts of Mumbai, almost after two years.

The company invited bids for its land parcel recently, said a source. The land parcel is valued between Rs 1400 crore and Rs 1800 crore, said a television channel report today.

"The company has been considering options for divestment of its land at Thane. However to date, the company has not shortlisted any buyer or entered into sale agreement on the divestment of the land at Thane. The company will keep the Stock Exchange informed in the event the company makes a decision regarding entering into a binding agreement for divestment of its land at Thane." the company said.

GSK had tried to sell the land in 2014 but the plans fell through because of legal hurdles.